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The second half of August recorded a spike in natural gas trade
In the last summer month of 2022, the trading turnover on the gas exchange reached 394 GWh of natural gas (July 2022 – 334 GWh). Exceptionally active trading took place in the five-day period from August 22nd until the 26th, during which 193 GWh of natural gas were traded, while in the remaining days of the month – 201 GWh were traded. The increased trade turnover on those days could have been influenced by increased price fluctuations in the neighboring gas markets – in the Netherlands and Poland. These gas markets recorded significantly higher gas prices than on the GET Baltic exchange after the announcement of the planned suspension of gas supply to Europe via the Nord Stream gas pipeline due to maintenance. Compared to 2021, trade turnover increased by 18% (355 GWh in August 2021). The largest amount of gas was purchased in Lithuania – 223 GWh, 133 GWh at the Latvian-Estonian common market area, 36 GWh at the Finnish market area. More than half of all traded gas were cross-border (ICA) transactions (225 GWh), which is 71% more than in the previous month (July 2022 – 131 GWh). A total of 1,810 daily and 1 monthly transactions were concluded in August. 50 exchange participants actively submitted orders on the exchange, all of them successfully concluded transactions.
Prices of individual transactions in August ranged from 170.00 EUR/MWh to 320.00 EUR/MWh. The value of the BGSI natural gas price index of the Baltic countries and Finland, which captures the changes in natural gas prices in the daily market amounted to 241.69 EUR/MWh. At the Lithuanian market area, BGSI amounted to 253.51 EUR/MWh (↑49%), at the Latvian-Estonian common market area 241.57 EUR/MWh (↑45%) and in Finland 221.56 EUR/MWh (↑36%). In August, the value of the Baltic – Finnish monthly market gas price index BGMI, which records changes in monthly market prices, was 170.00 EUR/MWh.
More detailed information is on the Baltic-Finnish Gas Exchange Trading Report – August 2022.
All Baltic-Finnish Gas Exchange Trading Reports are available at www.getbaltic.com.